Nassau County, FL Housing Market Report for September 2012

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Amelia Island, Fernandina Beach and Yulee, FL Real Estate Market Leader Prudential Chaplin Williams Realty's Housing Update Indicates Signs of Improvement in Local Real Estate Market. Good News for Sellers as Prices Rise and Days-on-Market Drop.

Amelia Island Best Real Estate Company, Fernandina Beach Top Real Estate Company

Chaplin Williams Real Estate

With 200 plus year-to-date closing and over $50M in 2012 sales, I know the market is improving.
- Hugh Williams

The monthly indicators report provided by the Amelia Island - Nassau County Association of Realtors and Prudential Chaplin Williams Realty reveals some positive information in their Amelia Island Housing Market Report. The numbers and statistics provided in the report include single family and attached homes in greater Amelia Island area, including Fernandiana Beach homes and various Amelia Island oceanfront condos.

New listings for the month of August 2012 were down 6.3% compared to August of 2011 but, though that percentage seems high, a closer look at the numbers shows that the market was only down 6 new listings (from 96 to 90) compared to the same time last year. YTD, new listings are down 15.5% (from 915 to 773) in the Amelia Island real estate market. By contrast, pending sales are up 3.4% over August of last year and up 9.5% YTD.

In good news for home sellers, the average sales price for the month of August 2012 was up for both detached and attached homes. Compared to August of 2011, the average price of a detached home rose 24.3% (from from $224,456 to $279,099). YTD, the average sales price of a detached home rose 11% (from $238,675 to $266,029). Year over year, the average sales price for an attached home in August 2012, including an oceanfront condo, rose by 315% (from $95,740 to $398,000) while, YTD, the average sales price of an attached home rose 29.7% (from $260,394 to $337,706).

The median sales price of a detached home rose by 8% from August of last year, to $205,000 from $189,900, while the median sales price of attached homes rose by an impressive 288.2%, from $72,000 to $279,500. YTD, the median sales price of detached homes rose 6.4%, from $188,000 to $200,000, while the median sales price of detached homes rose by 25%, from $194,000 to $242,500.

The number of closed sales for detached single family homes, such as Fernandina Beach homes, was up 14% year over year, from 57 to 65, while the number of closed sales for townhouse-condos year over year increased by 180%, the largest year over year increase in percentage seen in over 12 months. Ten fewer detached single family homes were sold in August 2012 compared to July 2012 (65 in August compared to 55 in July). 14 attached homes were sold in August 2012 compared to only 5 sold in July 2012.

The median number of days that detached and attached homes sold in August 2012 stayed on the market are similar for both single family and townhouse-condos. Single family homes sold in August 2012 stayed on the market for around 109 days. That amount of time is 11.2% longer than the year over year median of 96 days. Attached homes stayed on the market for around the same length of time, 107 days, but that number reflects a 20.7% year over year decrease.

In positive news for sellers, most sellers of single family homes received 91.2% of their original list price. That percentage is up by 4.9% year over year. Sellers of townhouses and condos received 93.2% of their listed price, a number that is down 1.7% from August of 2011.

About Chaplin Williams
Prudential Chaplin Williams Realty is a full-service real estate brokerage serving all of North East Florida and headquartered on Amelia Island. Chaplin Williams Rentals is a full-service professional property management company also located on Amelia Island, Florida. Both companies were established by owners, Dee Chaplin and Hugh Williams. For more information, visit Prudential Chaplin Williams Realty online at http://www.chaplinwilliams.com or call 904-261-9311. Call Chaplin Williams Rentals at 904-261-0604 or visit http://www.chaplinwilliamsrentals.com

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